Hong Kong Stock Market Review: China Unicom plunges

China Unicom fell today like a stock disaster, mainly due to China Mobile's interim report. China Mobile's profit growth relies on cost control, and the growth of data usage has slowed down. In the 5G era, ARPU has declined for the first time, causing concerns. Although China Unicom's profit and dividends have high elasticity, they may not appear in the short term. Despite China Unicom's two-day decline of over 9%, its increase for the year is still 25%. The significant drop is reasonable, as revenue pressure may prompt China Unicom to strengthen cost control and increase dividend payout ratio. We need to wait for the interim reports of China Telecom and China Unicom, as well as the performance announcements of Tencent and Alibaba